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Investment News
Acting on behalf of Blueprint Portfolio, FHP in conjunction with Inness England are pleased to announce the completion of the sale of Millfield Road Industrial Estate, Donington.
This is one of a series of small industrial estates owned by Blueprint located throughout Lincolnshire where FHP and Inness England have been involved with the sales.
The property comprises of six units totalling between 753 ft² to 1,101 ft² and with a total area of just over 5,000 ft². The property produces a current income of just over £14,000 with an estimated rental value of £17,000. A number of parties were interested which resulted in a competitive bidding process.
The property was sold to Dejex Supplies Ltd the adjacent owner occupier for the sum of £195,000 with the benefit of the existing income and two vacant units.
The purchase price showed an initial yield of 6.8% after an allowance for purchasing costs.
Further investment sale instructions are anticipated.
For further information contact Noel Roper of FHP.